News

Brian Beckett

The surge in metal prices until late 2008 has been a boon for Yorkshire-based ABS Industrial Resources. It sources specialist metals, including nickel, cobalt and tungsten, which it sells mainly to the oil and gas, aerospace, power-generation and steel industries. About 70% of customers are overseas and the firm has subsidiaries in Germany, France and South Africa. Beckett, 57, the managing director, co-founded ABS with Kevin Sheehan (qv). It made £2m profit on £117m sales in 2007, and a £55m valuation is justified. Beckett has a 45% stake worth about £25m and we add £5m for past salaries and other interests.